PHO vs. COMT
PHO (Invesco Water Resources ETF) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - PHO is a Water Equities fund tracking the NASDAQ OMX US Water Index, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, PHO returned 11.75%/yr vs 8.33%/yr for COMT. At a 0.26 correlation, their price movements are largely independent. PHO charges 0.59%/yr vs 0.48%/yr for COMT.
Performance
PHO vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, PHO achieves a -0.34% return, which is significantly lower than COMT's 30.19% return. Over the past 10 years, PHO has outperformed COMT with an annualized return of 11.75%, while COMT has yielded a comparatively lower 8.33% annualized return.
PHO
- 1D
- 2.37%
- 1M
- 3.28%
- 6M
- -5.62%
- YTD
- -0.34%
- 1Y
- 0.78%
- 3Y*
- 7.67%
- 5Y*
- 5.63%
- 10Y*
- 11.75%
COMT
- 1D
- -0.49%
- 1M
- 2.53%
- 6M
- 26.18%
- YTD
- 30.19%
- 1Y
- 33.20%
- 3Y*
- 12.71%
- 5Y*
- 11.75%
- 10Y*
- 8.33%
PHO vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHO Invesco Water Resources ETF | -0.34% | 7.62% | 8.59% | 18.85% | -14.86% | 31.28% | 20.83% | 37.57% | -6.40% | 23.55% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 30.19% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between PHO and COMT is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.26 |
The correlation between PHO and COMT shifts across timeframes, from -0.25 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PHO vs. COMT — Risk / Return Rank
PHO
COMT
PHO vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Water Resources ETF (PHO) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| PHO | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.27 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 1.90 | -1.84 |
| Martin ratioReturn relative to average drawdown | 0.13 | 6.35 | -6.22 |
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Drawdowns
PHO vs. COMT - Drawdown Comparison
The maximum PHO drawdown since its inception was -55.62%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for PHO and COMT.
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Drawdown Indicators
| PHO | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.62% | -51.89% | -3.73% |
Max Drawdown (1Y)Largest decline over 1 year | -13.78% | -17.57% | +3.79% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -17.57% | -1.62% |
Max Drawdown (5Y)Largest decline over 5 years | -28.60% | -29.00% | +0.40% |
Max Drawdown (10Y)Largest decline over 10 years | -34.92% | -39.22% | +4.30% |
Current DrawdownCurrent decline from peak | -5.84% | -11.28% | +5.44% |
Average DrawdownAverage peak-to-trough decline | -10.17% | -23.95% | +13.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.06% | 5.24% | +0.82% |
Volatility
PHO vs. COMT - Volatility Comparison
The current volatility for Invesco Water Resources ETF (PHO) is 5.12%, while iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) has a volatility of 5.91%. This indicates that PHO experiences smaller price fluctuations and is considered to be less risky than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PHO | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.12% | 5.91% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 11.79% | 19.67% | -7.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 21.54% | -6.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.47% | 21.20% | -2.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.46% | 18.85% | +0.61% |
PHO vs. COMT - Expense Ratio Comparison
PHO has a 0.59% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
PHO vs. COMT - Dividend Comparison
PHO's dividend yield for the trailing twelve months is around 0.58%, less than COMT's 5.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 5.95% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
PHO Invesco Water Resources ETF | 0.58% | 0.54% | 0.45% | 0.59% | 0.49% | 0.20% | 0.39% | 0.43% | 0.46% | 0.34% | 0.47% | 0.75% |
Frequently Asked Questions
PHO and COMT have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COMT has higher volatility (5.91%) compared to PHO (5.12%). In terms of maximum drawdown, PHO dropped -55.62% vs COMT's -51.89%.
On 10-year performance, PHO leads with 11.75% vs 8.33% for COMT. On fees, COMT is cheaper at 0.48% per year. On volatility, PHO has been the lower-risk option at 5.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PHO has performed better with a 11.75% return vs 8.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.59% for PHO.
COMT has the higher dividend yield at 5.95%, compared with 0.58% for PHO.
PHO is categorized as Water Equities, while COMT is Commodities. PHO tracks NASDAQ OMX US Water Index, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.59% for PHO and 0.48% for COMT.
COMT currently has the higher Sharpe Ratio (1.55 vs 0.05), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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